Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) — The “Mobile Food Truck Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
This Mobile Food Truck market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The mobile food truck market size has grown rapidly in recent years. It will grow from $1.8 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The mobile food truck market size is expected to see rapid growth in the next few years. It will grow to $4.08 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%.
The growth during the historic period can be attributed to several factors such as a heightened emphasis on eco-friendly practices, a rise in the number of events, growing interest in diverse cuisines, a trend towards offering seasonal menus, and the expansion of food trucks into non-traditional locations.
The projected growth during the forecast period can be attributed to several factors such as the development of dedicated food truck zones, a growing variety of cuisines, the implementation of loyalty programs, and reduced startup and operational costs. Key trends expected to shape the forecast period include the adoption of hybrid trucks, customizable menus, the use of ghost kitchens, mobile cocktail bars, and innovations in health and wellness-related cuisines.
The rising consumption of fast food is projected to drive growth in the mobile food truck market. Fast food, characterized by quickly prepared, often pre-packaged meals or snacks designed for rapid consumption, is gaining popularity due to its convenience, affordability, and the fast pace of modern life, which favors quick and easy meal options over healthier alternatives. Mobile food trucks contribute to the fast-food sector by providing a flexible and accessible means of serving quick, on-the-go meals in various locations, thus broadening the reach and availability of fast-food options. For example, in June 2023, Aviko, a Netherlands-based food company, reported that the UK fast food sector experienced a 9% growth, rising from $20.57 billion in 2021 to $22.44 billion in 2022. Consequently, the growing consumption of fast food is fueling the expansion of the mobile food truck market.
Key players in the mobile food truck market are focusing on innovative developments, such as hydrogen fuel cell food trucks, to provide zero-emission benefits and promote sustainability. Hydrogen fuel cell food trucks utilize hydrogen gas to generate electricity through an electrochemical reaction, which powers the vehicle’s electric motors and kitchen equipment.
For instance, in April 2023, Toyota Australia, an Australian automotive manufacturer, introduced the FCV Express Diner, a hydrogen-powered food truck equipped with a mobile kitchen. This vehicle features induction cooktops, an oven, and other appliances powered by its fuel cell, demonstrating the potential of hydrogen technology for sustainable, zero-emission food service. Designed to adapt to various environments and requirements, the FCV Express Diner also functions as a mobile generator, supplying electricity for external power needs, thereby enhancing its versatility.
In December 2023, Gatik, a US-based self-driving trucking company, formed a partnership with Kroger to launch an autonomous delivery service in Texas. Under this collaboration, Gatik’s medium-duty autonomous box trucks will transport goods from Kroger’s CFC to retail locations across the Dallas and Fort Worth areas. Kroger, a US-based retail company, is actively engaged in initiatives related to mobile food trucks.
North America was the largest region in the mobile food truck market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile food truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobile food truck market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Mobile Food Truck Market Competitive Landscape and Company Profiles
- Starbucks Corporation
- Airstream Inc.
- Mallaghan Engineering, Ltd.
- Custom Concessions Inc.
- Roaming Hunger LLC
- Baskin-Robbins
- AA Cater Truck Manufacturing Co Inc
- Cruising Kitchens LLC
- Bella Manufacturing
- Apex Specialty Vehicles
- M&R Specialty Trailers & Trucks Inc.
- Curbside Kitchen Inc.
- Prestige Food Trucks
- MSM Catering Trucks Manufacturing Inc.
- Venture Food Trucks
- Bostonian Body Inc.
- San Diego Food Truck Pros
- KoJa Kitchen
- United Food Truck
- Prime Design Food Trucks
- California Cart Builder
- Stone Press Food Truck
- Chameleon Concessions
- Schickwheel
- Venus Motors
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $2.11 Billion |
| Forecasted Market Value (USD) by 2028 | $4.08 Billion |
| Compound Annual Growth Rate | 17.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Mobile Food Truck Market Characteristics
3. Mobile Food Truck Market Trends and Strategies
4. Mobile Food Truck Market – Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Mobile Food Truck Market Size and Growth
5.1. Global Mobile Food Truck Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Mobile Food Truck Historic Market Size and Growth, 2018 – 2023, Value ($ Billion)
5.3. Global Mobile Food Truck Forecast Market Size and Growth, 2023 – 2028, 2033F, Value ($ Billion)
6. Mobile Food Truck Market Segmentation
6.1. Global Mobile Food Truck Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Unpowered Food Truck
- Electric Food Truck
- Gasoline Food Truck
6.2. Global Mobile Food Truck Market, Segmentation by Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.3. Global Mobile Food Truck Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Scenic Spot
- Street
- Other Applications
7. Mobile Food Truck Market Regional and Country Analysis
7.1. Global Mobile Food Truck Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Mobile Food Truck Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/28vvrx
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- Mobile Food Truck Market Report 2024
